American General Filled a Claim

[thewizard]

The 341 went without a hitch. Trustee filed a determination of no asset.

Now American General filed a claim stating the loan is secured. I filled pro-se. The paperwork signed with them does have a security agreement. The item listed as security I do not have.

Do I have to do anything. If I simply do not sign any reaffirmation does it get discharged, or does their filing a claim mean I'll still owe it since I can not return the property?

Thanks in advance!

[MSbklawyer]

It's strange that they would file a Proof of Claim in a no-asset case, even where they are secured. Generally speaking, assuming that you didn't wrongfully/fraudulently dispose of the collateral, your personal liability for the debt is discharged.

What is the collateral? Did you ever have it? What happened to it?

[thewizard]

I never had it

It's strange that they would file a Proof of Claim in a no-asset case, even where they are secured. Generally speaking, assuming that you didn't wrongfully/fraudulently dispose of the collateral, your personal liability for the debt is discharged.

What is the collateral? Did you ever have it? What happened to it?

The collateral they listed is 1 television. They listed a specific brand and model. It's something I never owned. I never spoke to them about that, or claimed to have it. They did not ask me anything about household items or anything like that. I didn't really pay that much attention when signing the papers. I filled out a form online for a loan, they called me and said I qualified and had to bring some pay stubs and ID into the office. I did that, they gave me stuff to sign, I signed, they have me a check.

[vrspartak]

Great question.. I'll probably be in the same boat. I have about $380 left of a personal loan with American general that was originally 3,000. They were secured by my laptop and lcd in 2006 .......The laptop was the 2004 model and now broken, and the lcd melted down last year (overheated). Sooo, I'm in the same boat as wizard....

[StartingOver08]

Great question.. I'll probably be in the same boat. I have about $380 left of a personal loan with American general that was originally 3,000. They were secured by my laptop and lcd in 2006 .......The laptop was the 2004 model and now broken, and the lcd melted down last year (overheated). Sooo, I'm in the same boat as wizard....

Actually it sounds like you are in a better position! If you still have the items you can return them to American General How can they complain about condition if you paid off nearly 90% of the loan...LOL

[MSbklawyer]

The collateral they listed is 1 television. They listed a specific brand and model. It's something I never owned. I never spoke to them about that, or claimed to have it. They did not ask me anything about household items or anything like that. I didn't really pay that much attention when signing the papers. I filled out a form online for a loan, they called me and said I qualified and had to bring some pay stubs and ID into the office. I did that, they gave me stuff to sign, I signed, they have me a check.

I'd suggest you take a look at the papers you signed. They probably filed them as an exhibit to the proof of claim they filed. Find out what you pledged as collateral.

[justbroke]

Do I have to do anything. If I simply do not sign any reaffirmation does it get discharged, or does their filing a claim mean I'll still owe it since I can not return the property?

Be very very careful with these companies. Many of them make take a general security interest in all computers. Notice how they don't put the serial numbers.

Personally, I filed an objection to them in my case. I wanted them to prove a security interest (filed UCC-1) and they never responded.

[thewizard]

I'd suggest you take a look at the papers you signed. They probably filed them as an exhibit to the proof of claim they filed. Find out what you pledged as collateral.

They are listing 1 Sony television of a specific model as collateral. I do not have a Sony TV, nor have I ever.

[MSbklawyer]

They are listing 1 Sony television of a specific model as collateral. I do not have a Sony TV, nor have I ever.

But did you sign something saying that you did?

[justbroke]

But did you sign something saying that you did?

I have found, MSbklawyer, that those "consumer finance" companies are having people sign those "signature" loans, but then don't tell them that they pledged property (household goods) as collateral!

They messed up on mine though. On the actual agreement, Citifinancial/American General forgot to actually fill in the area which read "I pledge the following property...". Oops! That's how I won on my objection.

I have been in those Citifinancial offices. They just "ask" you if you have a TV, computer, musical equipment or anything else of value. Sometimes they don't fully explain why they are asking. Then they bring in a "check" and the paperwork. They say "here's the check... just sign here". Of course, they also sold you $500+ in useless insurance as well and financed it into the loan.

[MSbklawyer]

I have been in those Citifinancial offices. They just "ask" you if you have a TV, computer, musical equipment or anything else of value. Sometimes they don't fully explain why they are asking. Then they bring in a "check" and the paperwork. They say "here's the check... just sign here".

I'm sure that's it. It just piqued my curiosity that they filed a POC when it's a no-asset case. Unless they were going to try to make an issue of the "fact" that he pledged something as collateral that he didn't own.

[AngelinaCat]

[marie]

" boil their heads " ??

sorry, just thinking out loud about how to fill in the blanks

[justbroke]

I'm sure that's it. It just piqued my curiosity that they filed a POC when it's a no-asset case. Unless they were going to try to make an issue of the "fact" that he pledged something as collateral that he didn't own.

Well, they usually do have a Security Agreement on things that you pledged. (Now whether you knew you were pledging is another story. They (CitiFinancial) did start to, in the last 3 years, have a different agent "close" the deal just to have some sort of separation of duties and I guess to document that it wasn't one person who "tricked" you into signing away your home furnishings.

American General (for CitiFinancial) filed a Security Agreement with their claim in my case. They collected documentary stamp tax. However, they actually never filed it with the State of Florida.. yet collected fees. I was thinking of informing the Attorney General, but, they have enough issues.

I'm thinking they file the POC just like many other creditors (or JDBs) do. Just in case you actually don't question the POC and they get some dividend from the Trustee (whether it's a Chapter 7, 11 or 13).

[MSbklawyer]

" boil their heads " ??

sorry, just thinking out loud about how to fill in the blanks

Come on, you can do better than that!